Progress Software (NASDAQ: PRGS) reported Q3 EPS of $0.48, $0.05 better than the analyst estimate of $0.43. Revenue for the quarter came in at $97.6 million versus the consensus estimate of $96.03 million.

Yogesh Gupta, CEO at Progress, said: “We are pleased with our better-than-expected revenue and earnings per share for the third quarter. Our strong financial performance can be traced directly to our continuing commitment to customer retention and to managing our business efficiently and profitably. Over the past nine months, our new management team has made excellent strides in executing on our business strategy, which we believe will create even greater value for all shareholders.”

Paul Jalbert, CFO at Progress, said: “Our Q3 and year-to-date results have enabled us to again increase our full-year estimates for revenue, operating margin, earnings per share and adjusted free cash flow. Going forward, we will continue to manage our business efficiently, strengthening and optimizing our core business. Through our recently increased dividend and share repurchase authorization, we have also enhanced our capital allocation strategy to return more operating cash flow to shareholders.”

GUIDANCE:

Progress Software sees Q4 2017 EPS of $0.58-$0.61, versus the consensus of $0.58. Progress Software sees Q4 2017 revenue of $112-115 million, versus the consensus of $114.4 million.

Progress Software sees FY2017 EPS of $1.82-$1.85, versus the consensus of $1.80. Progress Software sees FY2017 revenue of $394-397 million, versus the consensus of $396.02 million.

For earnings history and earnings-related data on Progress Software (PRGS) click here.